Early reports on November same-store sales indicate that shoppers have been more than willing to part with their money. Limited Brands Inc. (NYSE: LTD), Costco Wholesale Corp. (NASDAQ: COST), Stage Stores Inc. (NYSE: SSI), and Pier One Imports Inc. (NYSE: PIR) have all reported better same-store sales than estimated.
Limited Brands’ same-store sales rose 7%, compared a consensus estimate of 4.4%. Net sales fell by -2.3%, however, from $893 million a year ago to $872.6 million. The bigger news is that the company announced a $2/share special dividend to be paid on December 23rd to shareholders of record on December 12th.
Costco’s same-store sales rose 7%, excluding gasoline and currency effects. Including gasoline, sales were up 9%. Analysts were expecting a rise of 6.5%.
Stage Stores reported same-store sales rose 2.3%, compared with a consensus estimate of a flat month. Total sales rose 4.3%, and the company’s CEO said that the final week of the month was “very strong.”
Pier One released third quarter sales figures today, and same-store sales for the quarter ending November 27th rose 7%. The company said quarterly EPS would be $0.20-$0.21, compared with the consensus EPS estimate of $0.18. Same-store sales for the holiday weekend were up 10% over last year.
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